Legal process involves both information gathering and decisionmaking components. The field of legal procedure defines rules the affect the cost of accuracy of the legal process. Two important aspects of legal process involve the specification of relevent issues and the interaction between...

In this article we address the hard question of what decision rule should control decision making by juries in criminal cases.

The purpose of this paper is to outline the basic economic logic underlying the guaranty relationship- its costs and benefits, and what distinguishes it from other financial arrangements for which it is a substitute.

Standard form contracts are an inevitable by-product of a mass production economy. Just as fixed costs and scale economies in production lead manufacturers to develop standardized goods, those regularly engaged in business find it advantageous to standardize the terms of which they product...